Tubulis has completed a Series C financing round, securing €308m ($361m) that will primarily be directed towards advancing clinical development of its antibody-drug conjugate (ADC) candidate, TUB-040, into earlier therapeutic lines and a broader range of tumour types.
The new capital will also help Tubulis progress its pipeline, which includes TUB-030, its clinical-stage ADC candidate, and various preclinical programmes.
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By GlobalDataThe funding will also help in the broadening of the company’s ADC platform technologies aimed at pioneering new applications for ADCs.
The investment round was spearheaded by Venrock Healthcare Capital Partners and saw contributions from new investors Ascenta Capital and Wellington Management.
It also received backing from current investors including Andera Partners, EQT Life Sciences, Nextech Invest, Seventure Partners and OCCIDENT.
At the same time, Ascenta Capital managing partner and co-founder Dr Lorence Kim and Frazier Life Sciences managing partner Patrick Heron will be appointed to Tubulis’ supervisory board.
Tubulis co-founder and CEO Dr Dominik Schumacher stated: “With TUB-040 progressing in the clinic and first data to be shared in a late-breaking oral presentation at ESMO, we are ready to expand into earlier treatment lines, while continuing to innovate across our pipeline and technology platforms.
“The new funding empowers us to execute on our vision of creating truly differentiated antibody-drug conjugates that are tailored to the biology of solid tumours and can deliver superior therapeutic value to patients.”
TUB-040 targets the sodium-dependent phosphate transport protein 2B (NaPi2b), commonly overexpressed in ovarian cancer and lung adenocarcinomas.
It is currently undergoing a Phase I/IIa trial, known as NAPISTAR1-01, focusing on individuals with platinum-resistant ovarian cancer (PROC) and those with relapsed or refractory non-small cell lung cancer.
In June 2024, the US Food and Drug Administration granted fast-track status to TUB-040.
Tubulis made a licence agreement with Bristol Myers Squibb in 2023, focusing on the development of differentiated ADCs to improve treatment options for cancer patients.
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